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Fed Slashes Economic Outlook, Raises Inflation And Unemployment Rate Projection
And it just gets uglier:
- FED OFFICIALS SEE 2011 GDP 1.6%-1.7% VS 2.7%-2.9%
- FED OFFICIALS SEE 2012 GDP 2.5%-2.9% VS 3.3%-3.7%
- FED OFFICIALS SEE LONGER-RUN GDP 2.4%-2.7% VS 2.5%-2.8%
- FED OFFICIALS SEE 2011 UNEMPLOYMENT 9.0%-9.1% VS 8.6%-8.9%
- FED OFFICIALS SEE 2012 JOBLESS ESTIMATE 8.5%-8.7% VS 7.8%-8.2%
- FED OFFICIALS SEE 2013 JOBLESS ESTIMATE 7.8%-8.2% VS 7.0%-7.5%
- FED OFFICIALS SEE LONGER-RUN JOBLESS 5.2%-6.0% VS 5.2%-5.6%
Full breakdown:
Full announcement
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Preparing the groundwork for QEn.
They have to make sure the politicians fingerprints are on the lever though.
These guys are so optimistic! they keep forgetting the minus sign in front of the 2012 GDP estimate
Not to worry, inflation is only Transitory.
Bernanke always has cotton mouth.
They print this shit in the hopes the market will follow their map. None of this is even remotely accurate, especially during times of economic uncertainty.
Any and all of these printed pieces of Fed SHIT aren't worth 1/100 oz of silver.
Pure garbage. The Fed is playing "follow me" with issuing these projections. Complete mind numbing manipulation and coercion of the sheeple.
We all know inflation is higher than 2%. LIAR Ben.
You are exact. They print creating inflation, then let the CME bash commodities, then print creating inflation, then let the rumors and data that support deflation run-a-muck to knock down commodities, then print......etc.
Again, as it has been stated here numerous times; welcome to stagflation.
notice how the numbers get better into the future
I guess they are already announcing an increased lying program going forward which will bend the truth even further.
The numbers which aren't total bullshit now will be. You won't know anyone who has a job, but the headline UE will be 6%
I've always wondered what the reported unemployment % would be if everyone - every single person in the country - quit their jobs. Like 30%?
It wouldn't change, because everyone who quit would just be marked down as "retired" or "left the workforce."
Lol, true...
"No one is actually working, but the unemployment rate is 25%."
Morons.
@ slaughterer
Yes. And we better get used to constantly revised numbers for the foreseeable future. It's all lies anyway.
The answer is gold.
Stagflation bitchez!
Precisely.
can only go on so long...
Things that can’t go on forever, don’t - but they can sure take a long time about it
Has any government agency ever under estimated the statistics that support their agenda?
I've got my pitchfork ready
It's plastic but hay ... It comes from china
hay is for horses
But Fed models forecast 2012 mobs only .3% larger than current torch bearing mobs. Well under the projected rise in unemployment, and therefore an improvement
Also, these mobs will count as floor traffic at the malls they are burning down during Christmas season--Bullish.
Fed slashes own wrists goes long blood.
again - how can they get away with the happy recovery talk
if you repeat a lie often enough...
Less Employed = More EPS = BULLISH!!! Dow 36,000!!!!!!!!!!!!!!!!!!!!!!!!!!!
Why are we green today?
We are always green, unless someone says something negative.
Maybe you got drunk and passed out at a body painting salon? Maybe you channeled Kermit the Frog? Fucked if I know..
Because algos juiced by the PPT are generally biased positive..
Until they are not.
I'll take the opposite side of these crack induced projections
stocks initial reaction was rally!
I'm seeing NOTHING....what did I miss?
I'm seeing consolidation in a tight range. Should have broken out. Algo's have been turned off?
Bullish unless Greek rumor comes true.
yep, ramp is on.
And by some magic, the EUR/USD prints 1.38 in a flash. Ummm...what the hell was that?
Fx over the ST is BS, the leverage is there to hang yourself with.
The brokers must be making like bandits these couple of months.
It was the Bots. Whenever the word Fed appears in a news release, they overwhelm the shorts and clear the book...
Oh...okay. Crime wave on then. Carry on.
If only brent and crude were 20 bucks lower.
Better not start that shooting war in Iran so soon i suppose.
Like the Israelis are gonna cooperate.
Umm... WTI *is* 20 bucks lower....
So it is not all better. I just do not understand. This is so confusing. Geesh.
I see the Fed Full of Shit - 100%
Right. To be revised down in the middle of 2012 right?
Unemployement has been doing up for 4 years and they keep projecting it will go down year after year while anybody who works, manufactures, knows that people are spending less WTF! I need a drink...maybe two!
Of course unemployment will decrease.
Once your unemployment compensation runs out, you are no longer unemployed.
Much like inflation is roughly 2% (LOL), but peanut butter increased 40%.
http://www.cfnews13.com/article/news/2011/november/336991/Smaller-crop-s...
Don't forget retiring boomers.
I'm currently arbitraging peanut butter by going long peanuts from our snack machine (which have yet to go up).
That and everytime it becomes an issue the re-formulate the calculation used to present the number... funny how that re-formulation always shows unemployment as less bad than with the earlier formulation.... hmmmmmmm.
Its almost 3 pm, do you know where your market really is?
FED OFFICIALS SEE NO REFLECTIONS WHEN THEY LOOK IN THE MIRROR
We're all gonna die
Looks like Bens' helicopter is on time. I can feel the " rotor wash".
maybe the pilot will get cold, and close the fan!!!
Quick time for a UK tabloid to break a story about China providing dip financing to Italy.
News Flash...BlowHorn [CNBC]...some asshat...
"Inflation is contained and looks to be for quite some time."
Since my tv became a radio months ago, can someone tell me whether or not this guy's nose is growing?
FED=100% bullshit...24/7
I can't tell. It's too far up Liesman's can.
Time to short. Everything is in place for an absolutely miserable November.
Regarding the statement:
"FED OFFICIALS SEE LONGER-RUN JOBLESS 5.2%-6.0% VS 5.2%-5.6%"
What is the Fed definition of longer-run?
Sometime around the year 2525.
FED CONFIRMS STAGFLATION
FED CONTINUES TO PRINT MONEY ALBEIT AT A SLOWER RATE THAN 1Q11
FED TO CONSIDER PRINTING MONEY MORE RAPIDLY
FED RELIANT ON OUTDATED METHODS AND RELIES ON HEAVY INTERVENTION IN MARKETS TO ARTIFICALLY INFLATE ASSET PRICES
FED SEEKS HIGHER INFLATION< ADDITIONAL DOLLAR DEPRECIATION AND DESTRUCTION OF THE MIDDLE CLASS
FED ADMITS ONLY TOOL LEFT IN THE BOX IS RAMPANT MONEY PRINTING
FED AIMS TO MAINTAIN STATUS QUO AND HELP REELECT CURRENT ADMINISTRATION
FED HATES RON PAUL
+1!
once they bring back the draft, unemployment will drop like a rock, you all wait and see!
Who needs conscription when you have starvation?
Is this bullish for stocks?
Yes, because it's easier to beat expectations!
Apparently.
I don't know, but can we have a full frontal picture of you? You may or may not be clueless, but I believe you have some other attributes which could contribute to this Board.
here ya go...enjoy
He just said 'transitory'. Do I take a drink?
I'll drink to that.
Fed chairman speaks...
http://www.youtube.com/watch?v=JFM9AREN62I&feature=related
Peanut butter is going the way of Beluga Caviar
How about pulling up that chart they had ... the with and without help ... the one where they have failed miserably even with the 'with help' bit and comparing it to their new views, uh wild guesses!
I think he sounds like he is out of bullets....he can do only one thing...print...and politics will not allow it...unless Obama goes around congress...and he will try...
The Fed is counting on it. They laid it out there last year in plain english.
"Do, or do not. There is no try." - Yoda
On a side note, he can and will most likely use an Executive Order to get the printers running at ludicrous speed, thereby hamstringing the CONgress. He has done it before, he shall do it again. History has shown this out. The Teleprompter in Chief will get his WAY. RECOVERY BITCHEZ!
Short on paper, long on preps.
Pray for the best, prepare for the worst.
Steve Liesman asked a politcal question? He is such a PUSSY ASSHATT! Did ya get Bensters glowing Red Eyes on the comment? Re : run it!
The only thing Liesman's good for is emptying a buffet at Shoney's
Raising the ue forecast screams that qe3 is coming bitchez.
Birth and Life Events, Bad weather, and lack of Tradition to be popular from now until 2020
Lies squared. They lie, their numbers lie.
As a society we need to take a larger step back, and examine exactly how this cartel of privately owned international banking interests got to be the "keepers" of our economy.
This is a Rothschilds owned and directed operation.
What are we as a nation doing hanging on it's every word and action? It has no fundamental right to even exist - it has been an unconstitutional counterfeiting ring from day 1.
We should shove their beige books right up their ass and disband the fucking thing already.
good luck with that. ain't happening, just like change ain't happening either. same old, same old political system and thus same old same old financial system. move on please, nothing to see here.
Well we can at least dream a little dream.
The whole thing is so sick. There's CNBC with a split screen, on one side the money printer, on the other the stock indices.
The financial community sits there and stares at the Rothschilds-owned money printer, looking for signs that he's going to print money so it will juice the price of equities.
Not about factories humming and people working and society investing and building - no, not about that. About a little criminal bastard money printer conjuring up fiat out of thin air to inflate financial assests for no reason other than that the rich own them.
The whole fucking thing should be blown to smitherines. Start the fuck again with something else.
.
Gee, how did the Fed get so visionary all of a sudden after being blind the entire time?
Long Visine?
Now Shakey McShakes's mouth has gone dry. I have no picture on my tv...cannot see...but I can hear the lip smacking. Ummm...what's to be nervous about there Shakey?
what happened to the green shoots?
Blame it all on the East Coast snow storm.
I's can only reed dis is it's like converged into da Ali G lingo.
No Problem! The House Republicans have it all under control. They are voting on a bill that would make "In God We Trust" our national motto this week. God will increase economic output shortly thereafter.
In other words, they're doing nothing. A marked improvement over a Democrat controlled House.........
They see longer term unemployment at 6%. Is that the same longer term where they raise overnight interest rates?
It would be interesting to learn what industries the Fed believes will create enough jobs to lower the U-3 unemplyment rate into the 6.8 to 7.7 percent range by 2014. I have a hard time believing that many new jobs will be created.
You've got the equation backwards. They're planning on a smaller workforce, long-term.
Who knows that the Fed is really trying to achieve. It appears they have been working to devalue the US Dollar. Seems rather treasonous to me for them to devalue the purchasing power of our currency.
DIE!
Any improvement in credit?
Bullish
Anyone have any idea why SYMS is up20% on a bankruptcy filing?
Isn't it amazing how the same people responsible for the economic crisis and who didn't even see it coming (or so they claim) are not only still in charge, but many people actually continue to LISTEN to what they have to say?
An educated consumer is our best customer.. the bernank.
Ben's advice....LIVE YOUR LIVES! (and quit whinning you debt slaves).
Looks like Fed Officials have "vision" problems...
Many many more revisions to come...
No growth but, lower unemployment. How the fuck does this happen and who does the hiring?
Projections from Mediocrastan. Selah...
Minister Farrakhan Gives Ron Paul An Attaboy
http://www.youtube.com/watch?v=xEFa3yndLj0&feature=youtu.be
So the market closes up on lower GDP and higher unemployment?.....I'm at a loss.
They need to destroy Euro first before they print America into the Weimar existence.